SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) December 28, 2000
Aqua Care Systems, Inc.
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(Exact name of registrant as specified in its charter)
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Delaware 0-22434 13-3615311
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(State or other jurisdiction of incorporation) (Commission File No.) (IRS Employer Identification No.)
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11280 N.W. 37th Street, Coral Springs, Florida 33065
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(Address of principal executive office and zip code)
Registrant's telephone number, including area code: (954) 796-3338
Not applicable
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(Former name or former address, if changed since last report)
Page 1 of 3 Pages
Exhibit Index on Page 2
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Item 2. Acquisition or Disposition of Assets.
On December 28, 2000, Aqua Care Systems, Inc. consummated the sale of the assets
of its subsidiary, DuraMeter Pump Company, Inc., ("DMPC"), to Haskel
International, Inc. In connection with this divestiture, Aqua Care Systems
retained the land and building in Angola, New York, where the operations of DMPC
are located. The Asset Purchase Agreement provides for, among other things, an
initial purchase price payment of $3,750,000 in cash and prospective earn out
payments aggregating $1,000,000, based upon the achievement of certain net sales
levels of DMPC products over the next two years.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
2.1 Asset Purchase Agreement by and among Aqua
Care Systems, Inc. and DuraMeter Pump
Company, Inc. and Haskel Holdings, Inc. and
Haskel International, Inc. dated as of
December 27, 2000, including the Transition
Services Agreement, the Assignment and
Assumption Agreement and the Bill of Sale
2
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Aqua Care Systems, Inc., Delaware corporation
Date: January 12, 2001 By: /s/ Norman J. Hoskin
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Norman J. Hoskin
Chairman of the Board, President
and Chief Executive Officer,
Treasurer and Secretary
/s/ George J. Overmeyer
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George J. Overmeyer
Vice President of Finance and
Principal Accounting Officer
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EXHIBIT INDEX
EXHIBIT NO. EXHIBIT DESCRIPTION
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2.1 Asset Purchase Agreement
